Please restrain your eye-rolls at the mention of millennials and generation Z-ers. Honestly, it is impressive that you even clicked on this article (so thank you for that). But you can’t ignore the fact that they (myself included) are the largest percentage of the population with disposable income, AND they are now becoming the ecommerce generations. Yes, I am a Gen Z. But more importantly, why should you care about us? Well, let’s take a look at some facts:
- Gen Z’s are the children of corn technology, who would rather sacrifice themselves than their smartphones
- 80% of Gen Z’s purchases are influenced by social media.
- Thirteen-year-olds are now looking like they are twenty-two on Instagram (and can still take a better picture than me)
- Gen Y’s have an annual purchasing power of $170 billion
- Gen Z’s have an annual purchasing power of $44 billion
- Women and men ages 18 to 34 are more likely than 35 to 64-year-olds to engage in nearly every online shopping activity, with 40% of males and 33% of females in the younger age group saying they would buy everything online if they could.
If dollar signs aren’t spinning in your eyes like you won the lottery, they should be. Yes, they may be annoying with their obsession with Justin Bieber, kombucha, and various true crime podcasts, but their sphere of influence extends not only to thousands of followers but also across various platforms. Take note of the generation’s shopping habits because their hashtags and selfies are just a few traits contributing to the rise in their world ecommerce domination.
So how do you tap into their purchase preferences? Well, let’s pick at their brain… The approximately 80 million Gen Y’s control a purchasing power of about 21% of consumer products with their greatest influence in the retail industry. The KKW (Kim Kardashian West) fans like to have options when it comes to buying.
About 75% of the generation will turn to their smartphones to meticulously research products. Generation Z’s tend to shop from brick-and-mortar (BAM) who offer the option to order online and pick up products in stores. With the power of knowledge at the generation’s fingertips, Gen Z ecommers price match everything. Offering incentives, coupons, and discounts are a few ways to sway the ecommerce generation.
YOLO holds true for the generation since 52% are more likely to make impulse purchases. Ever see Confessions of a Shopaholic? The instant gratification and retailer’s ability to make buyers smile is 33% more important to Gen Y’s and Gen Z’s than other generation shoppers.
Gen Z’s want everything right away as we are impatient shoppers – we are always looking for quick discounts with speedy delivery of our needs. In fact, 216% of Gen Z’s are more likely to be influenced by in-store touchscreen displays. Smartphones, tablets, and laptops are influential in improving the shopping experience. No wonder the Anti-Social Social Club is doing so well.
All in all, us Gen Z-ers like stores – both online and offline – to be aesthetically pleasing. This is where creative and simplified content creation becomes crucial for marketers. For us, it’s not about finding an article of clothing immediately, but finding the perfect dress on Facebook or Pinterest, creating digital wardrobes, and building an entire experience around our well thought out purchase.